It had become a bit of a joke in the past few years, as people who lived alternate realities on social media added cliched hashtags to their bios: #Traveller, #Wanderlust, #GlobeTrotter. The year 2020, however, delivered a punch (line) without any humour at all. In India alone, the tourism sector is staring at losses worth ₹1.29 trillion through the calendar year because of Covid-19, according to a study by credit rating agency Care Ratings.
The World Travel and Tourism Council (WTTC) predicts the sector will face a staggering 100 million job losses due to the pandemic and a sharp escalation in economic loss—up to $2.7 trillion of GDP worldwide.
When we emerge after months of government-mandated lockdowns to control the spread of the coronavirus, the world will have all but changed, there’s little doubt of that. While we slowly navigate the contours of living in this brave new world, we will have to also find new ways of, well, navigating the world itself. How will we travel when we travel again?
The answers are complex. Let’s begin with the immediate question:
WHEN WILL WE TRAVEL AGAIN?
“We have to look at a more near-term recovery before a long-term one. Even a semblance of it will only begin after mid-June—it could be July, August, potentially even September,” says Neeraj Govil, senior vice president, South Asia, Marriott International. “And I say this assuming the health condition will not worsen. We should hopefully continue in the right trajectory and see some ease of restrictions that are reliable by then.”
When and whether we will cross borders in the near future will depend on various factors, which won’t count price within them, as they traditionally have.
Denne historien er fra June 5, 2020-utgaven av Forbes India.
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Denne historien er fra June 5, 2020-utgaven av Forbes India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Home-Cooked Meal Is Now Greatly Valued
The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients
Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term
DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
Living Waters
A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet
